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Plant & Co Brands Ltd. 20.01.2021

Plant&Co. Acquires YamChops, Canada’s First Plant-Based Butcher

-          Specializing in a Variety of Plant-Based Meats & Assortment of Vegan Foods

 

Toronto, Ontario – January 19, 2021Plant&Co. Brands Ltd. (CSE: VEGN) (FSE: VGP) (OTCPK: VGANF) (Plant&Co. or the Company), a modern health and wellness company curating delicious plant-based foods, is pleased to announce it has acquired various Canadian corporations doing business as YamChopsTM  ~ Grown not raised ~, which specializes in the preparation, distribution, and retail sales of over 17 proprietary plant-based meats, chicken, pork, fish, and various other vegan style food products in both a B2B and B2C revenue model.

 

https://ci6.googleusercontent.com/proxy/TCNlCr81yHZVTa-mvsqkcEZ-5doREGPhJfIwE7Exq3D5Nvyzb_PS88Y8fptqx_Sqbp96DblbFgs9bHmEt1HwQM9zw6l-_U3DVnKX817IaKF1XXM24w=s0-d-e1-ft#https://s1g.s3.amazonaws.com/6512fbc9a1609db8d6b0f87c5ead6c4a.jpeg

 

As once featured on TVs famous Dragons Den, and named NOW Magazine Reader's Choice Award for "Best Butcher & Best Deli" in Toronto! YamChops is considered one of North America’s first and Canada’s only plant-based butcher shop. For over 12 successful years, it has specialized in the development, preparation, and distribution of plant-based meats and other vegan style food products. YamChops has a retail location in the heart of Toronto’s food district.  They enjoy popular demand on four of the most popular food delivery platforms: Uber Eats, Skip the Dishes, Corner shop and Ritual One.

 

 The acquisition of YamChops was part of the company’s M&A strategy to instantly arrive at the point of in-market sales of a known, trusted and established brand.  This acquisition is truly transformational in adding to our growing portfolio of plant-based products and companies, said Shawn Moniz, CEO of Plant&Co. Brands. With over a decade of product development, preparation, trademarks and distribution experience in the emerging plant-base food market, YamChops is known for its high-quality foods that taste great and customer service that is second to none and puts Plant&Co. in a leading position in the plant-base sector. Creating delicious plant-based foods that compete with meat is an art form which the YamChops’ team has perfected. We have a great opportunity to leverage the recent growth in popularity of these healthy meat and dairy product alternatives and expand our newly acquired business across North America and beyond.

 

Plant&Co’s strategy is to utilize the existing distribution networks and B2B relationships for large and bulk ordering of product it already has with Nation-wide distributors such as Grande Cheese, United Natural Foods Inc (UNFI), Whole Foods, London Drugs, Organic Garage, Nature’s Emporium, Choices Markets, The Big Carrot, Natural Foods Ambrosia, and Natures Fare Markets to rapidly grow and expand the 17 proprietary plant-based products of YamChops to new and emerging marketing not only in Canada but to the explosive US markets. 

 

YamChops currently has B2B distribution to Sobey’s London, Pusateri's, and Nature’s Emporium. Working together with the Holy Crap management team, our new YamChops team, and our advisory board members the company plans to leverage the physical and digital footprints of each companies existing customer following (numbering in the tens of thousands of customers unique to each brand) to cross-pollinate and amplify sales by marketing a consolidated umbrella of products through targeted sales channels and establishing footholds in emerging North American markets. Creating an amplification model for growth within Plant&Co’s family of brands and products

 

yamchops toronto

 

The YamChops plant-based butcher shop is set up like any neighbourhood butcher shop. Customers will find a butcher counter with a glass case full of vegetarian and vegan delicacies on display. These delicious food products have been perfected over the years and include YamChops very own plant-based:

 

-          Beef, chicken and lamb burgers,

-          Sausages, ribs and bacon, and

-          Vegetarian spin-offs of chicken teriyaki and tuna salad made

-          from chickpeas.

 

yamchops toronto

 

YamChops also offers customers foods beyond the plant-based butcher block such as condiments to complement its main attractions. Chutneys, pickled vegetables and sauces like Mongolian beef sauce are available at their shops. YamChops also offers a line of juices called Au Jus.

 

YamChops success was recognized in a recent Wall Street Journal article, naming the company as a leader in the race to for a piece of the faux-meat market, being named beside a titan of the business, Tofurky.

 

https://www.wsj.com/articles/tried-tofurky-maybe-its-time-for-yamchops-and-incogmeato-11606420989

 

YamChops was considered a trail blazer when it established operations in 2008 and began the preparation of plant-based meats and food specialty products. Today, as plant-based food products have entered the mainstream and are included on the shopping list of many shoppers across North America, YamChops has firmly established its leadership position and is poised for growth. The sales of plant-based meats in North America, a food category that did not exist a decade ago, grew to almost US $800 million in 2019, up 37 per cent from 2017. According to research firm Euromonitor International, plant-based meats sales could reach over US $2.5 billion by 2023.

 

YamChops offers high-quality plant-based food products that appeal to all types of eaters: vegans, vegetarians, flexitarians and those who are simply choosing to reduce their meat, fish and dairy consumption. It is looking to take its unique and high-quality food products coupled with unmatched customer service beyond the market of Toronto to the rest of Canada and across North America.

 

Transaction Structure

 

On January 18, 2021, the Issuer entered into a definitive share purchase agreement (the “Agreement”) with 2574578 Ontario Inc. (“257”) and JDB Innovations Ltd. (“JDB”, and together with 257, “YamChops”) and each of the shareholders of YamChops (the “Vendors”) to acquire all of the issued and outstanding shares of YamChops (the “Transaction”). 

 

As consideration for the Acquisition of YamChops, the Company (i) made an aggregate cash payment of $608,446.26 to the Vendors (the “Cash Payment”); (ii) issued 344,828 common shares to the Vendors (the “Consideration Shares”); and (iii) settled certain outstanding debts of YamChops held by third-parties in the amount of $161,553.74 (the “Debt Settlement”). The Consideration Shares are subject to voluntary pooling restrictions from which 100% of the Consideration Shares will be released on February 17, 2021.

 

The Company is at arms-length from YamChops and its shareholders. The Transaction neither constitutes a fundamental change nor a change of business for the Company, nor has it resulted in a change of control of the Company within the meaning of applicable securities laws and the policies of the Canadian Securities Exchange.

 

About YamChops

www.yamchops.com

 

YamChops is a plant-based butcher shop based in Toronto, Ontario. Vegans, vegetarians, flexitarians and even meat enthusiasts love visiting the beautifully curated shop located in the heart of Toronto’s food district. Whether customers sample YamChops Tunaless Tuna, Chick*n Schnitzel, Szechuan Beef, Montreal Style Steak, or browse their vegan grocery assisted by its knowledgeable staff, customers will have an unforgettable experience at YamChops vegan butcher shop. YamChops’ mission is to provide extraordinary plant-based foods and provide extraordinary service to its customers, with a vision to expand its plant based culinary experience and make YamChops the destination of choice for all consumers.

 

About Plant&Co. Brands Ltd.

 

Plant&Co. Brands Ltd. (CSE: VEGN) (FSE: VGP) (OTCPK: VGANF) is modern health and wellness company curating delicious plant-based foods.

 

For additional information, please contact:

 

Shawn Moniz

Chief Executive Officer

ir@plantandco.com

www.PlantandCo.com.

 

Neither the Canadian Securities Exchange nor its Regulation Services Provider (as that term is defined in the policies of the Canadian Securities Exchange) accepts responsibility for the adequacy or accuracy of this press release, which has been prepared by management.

 

Cautionary Note Regarding Forward-Looking Statements

 

All statements in this press release, other than statements of historical fact, are forward-looking information with respect to the Company within the meaning of applicable securities laws. Forward-looking information is frequently characterized by words such as plan, expect, project, intend, believe, anticipate, estimate and other similar words, or statements that certain events or conditions may or will occur. “Forward-looking information” in this news release includes information about the expectations, intentions, plans and future actions of the Company and YamChops. Forward-looking statements are based on the opinions and estimates at the date the statements are made and are subject to a variety of risks and uncertainties and other factors that could cause actual events or results to differ materially from those anticipated in the forward-looking statements including, but not limited to delays or uncertainties with regulatory approvals, including that of the CSE. There are uncertainties inherent in forward-looking information, including factors beyond the Company’s control. There are no assurances that the business plans for Plant&Co. or YamChops described in this news release will come into effect on the terms or time frame described herein. The Company undertakes no obligation to update forward-looking information if circumstances or management's estimates or opinions should change except as required by law. The reader is cautioned not to place undue reliance on forward-looking statements.

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